Savings update: top picks for savers as the Isa deadline looms

Published by Sylvia Morris on 27 March 2019.
Last updated on 27 March 2019

The case for Cash Isas

Savers looking to use their Cash Isa allowance before the end of the tax year on 5 April 5 can earn up to 1.5% through easy-access accounts.

Santander offers this rate on its eISA, but only to customers with a 123 World or Select account. The next best deal is 1.46% from Yorkshire Building Society but this account only allows one withdrawal per year.

Paragon pays 1.45% and OakNorth pays 1.44%. Virgin Money also offers 1.45% on its Double Take E-Isa, but unlike the other top-paying accounts, limits you to two withdrawals a year.

On fixed-rate Isas, OakNorth pays 1.78 % on its new one-year account, which was launched this week. This top rate is closely followed by 1.77% from Shawbrook Bank and 1.75% from Charter Savings Bank.

For two years, you can earn a slightly higher 1.95% through Charter Savings Bank.

On easy-access taxable accounts, Kent Reliance has raised the rate of its online Easy Saver to 1.5%. 

Marcus by Goldman Sachs, and Virgin Money also pay 1.5%. The Marcus account includes a bonus of 0.15 percentage points for the first year, while Virgin Money’s Double Take online account limits you to two withdrawals a year. 

The most that you can earn on a one-year fixed-rate bond is 1.97% from Shawbrook Bank, with Close Brothers Savings close behind at 1.96%. For two years, Aldermore and Tandem both pay 2.25%.

This article first appeared on our sister website Money Observer

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